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5-24-2013 Watch List

 

Yesterday completed the first 2 consecutive down days since mid April on the SPY, although the market did try and recover and close green. Today the futures are red once again, following Europe and Asia’s action. The Nikkei once again proved to be extremely volatile, starting up over 3%, and then tumbled down 4%, and finally closed up .9%.

With the three-day weekend coming, will be interesting to see how today pans out.

Gold and Silver have found a bit of footing, but I continue to think it will be short lived. ISRG had a favorable verdict yesterday, and the stock is up nearly 4% pre-market, will see if the move has any follow through.

 

Here are the analyst changes for today:

 

 

CRM Salesforce.com weakness a buying opportunity, says Susquehanna
Susquehanna would use any weakness in Salesforce.com as a buying opportunity. The firm cited increased guidance and an evolving business model. shares are Positive rated with a $50 price target

 

 

CRM Salesforce.com weakness a buying opportunity, says Barrington
Barrington says it views any weakness in shares of Salesforce.com following the company's Q1 results as a buying opportunity. The firm believes Salesforce.com is a growth company that will deliver plenty of profitability once growth slows and keeps an Outperform rating on the stock

 

CRM Salesforce.com pullback a buying opportunity, says Lazard Capital
Lazard Capital views the post earnings pullback in shares of Salesforce.com as a buying opportunity and reiterates a Buy rating on the stock with a $52.50 price target

 

CRM Salesforce.com results solid, says Stifel
After Salesforce.com reported higher than expected Q1 revenue and provided roughly in-line guidance, Stifel thinks the results were "solid but not flashy." The firm believes that the company is likely to report stronger results later in the year, and it keeps a Buy rating on the shares

 

ISRG Intuitive Surgical risk decreased by court decision, says Cantor
After Intuitive Surgical won the first of 26 cases alleging that patients' injuries or deaths were caused by the company's da Vinci robotic surgery product, Cantor thinks the decision indicates that the cases will not greatly damage the company's reputation. The firm reiterates a $575 price target and Buy rating on the stoc

 

P Pandora price target raised to $24 from $20 at Piper Jaffray
Piper Jaffray raised its estimates and price target for Pandora citing the company's strong Q1 results and improving monetization. The firm keeps an Overweight rating on the stock

 

CRM Salesforce.com downgraded at Wedbush
As previously reported, Wedbush downgraded Salesforce.com to Neutral from Outperform. The firm downgraded shares due to the significant decline it Q1 deferred commission expenditures, an indication that new sales activity in the quarter was down substantially. Price target lowered to $42 from $51

 

 

May look to get some more OPEN positions today, as well as possibly playing some TSLA calls for a possible $100 break. Folks are asking me about ISRG and my thoughts, think it will be hard to get a good position with the large spreads and high premiums, but stay tuned to chat and twitter for updates.

 

Here are the strikes I am looking at for the open:

 

 

Stock Ticker Call/Put Strike Expiration Closing Price Entry Price
TSLA CALL $100.00 Weekly 0.25 0.20
OPEN CALL $80.00 June 0.35 0.30

 

 

Dont forget the week ahead Sunday night at 10:30 : https://www.optionmillionaires.com/live-event-classes-jtv/

 

Lets have a great end to the week and EVERYONE HAVE A GREAT Holiday WEEKEND!!

 

- JB

5-23 Watch List

 

I said make sure you were buckled up in yesterdays watchlist, but there was no way i saw the market not only hitting new highs at 169.07 on the SPY, but then selling off the rest of the day to close at 165.93. We actually hit 165.17 late in the day, a huge move from the highs as folks digested Big Ben’s testimony as well as the FOMC notes, where some folks are open to talk of ‘tapering’ the purchase program as soon as june. I still think does not happen, but with the market up so much, folks are going to be careful and take some profits, which it looks like is continuing today. As I usually do, I will watch the 50dma of the SPY which is 158.10 as a support area. Not saying we fall all the way back there, but need to have some lines in the sand.

The Nikkei fell over 7% overnight and upwards of 1000 pts. All things considered from where it has began its rally in November, its still up quite a bit. Gold started to rally at about 2am overnight and is up nearly 1.6% as folks start using it as a ‘fear trade’ I still like metals short and will look to add to some of my calls on ZSL and DUST as well as dabble in some more SLV puts.

 

BIDU teased us at 100 yesterday, only to fall under 94 at some points in the session, With todays lower open, BIDU is opening red and we shall see if it finds any support.

 

WIll be keeping it small today as I want to see how the market plays out.

 

Here are some of the analyst changes for today:

 

 

DD DuPont downgraded to Sell from Hold at BGC Partners
BGC Partners downgraded DuPont to Sell with a $50 price target. Note the firm downgraded shares to Hold on May 3

 

 

XONE ExOne price target raised to $50 from $35 at FBR Capital
FBR Capital raised its price target for ExOne citing its positive stance on the company's long-term opportunity. The firm reiterates an Outperform rating on the stoc

 

HOT Starwood Hotels upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded Starwood Hotels based on relative valuation, accelerating capital returns, solid fundamentals, and owned hotel sales opportunities. Price target raised to $84 from $70

 

HPQ Hewlett-Packard guidance looks conservative, says Bernstein
After HP reported lower than expected Q2 revenue but higher than expected EPS, Bernstein thinks the company's EPS guidance looks conservative. The firm expects the company to either improve its business or break itself up. It keeps an Outperform rating on the shares

 

CMG Chipotle coverage assumed with a Neutral at Credit Suisse
Target $360.

 

HPQ Hewlett-Packard upgraded to Hold from Underperform at Jefferies
Jefferies upgraded Hewlett-Packard to Hold citing solid execution and cost controls following the company's Q2 results. The firm raised its price target for shares to $24 from $18.50

 

BA Boeing price target raised to $120 from $105 at Deutsche Bank
Deutsche Bank raised its price target for Boeing shares citing increased confidence following the company's positive investor day. The firm keeps a Buy rating on the stock

 

 

Think the GOLD ramp overnight is going to provide one last chance to grab some positions for the move to the downside.

 

 

Stock Ticker Call/Put Strike Expiration Closing Price Entry Price
GLL CALL $125.00 June 0.65 0.55
GLD PUT $130.00 Weekly 0.62 0.25
SLV PUT $21.00 Weekly 0.19 0.15

 

 

Lets have a great day!

 

- JB

This Chart Looks Bullish Short and Long Term

A downward trend looks to have been broken here.  The stock broke above long term trendline resistance recently and then came right back down to that line.  It acted perfectly as support and the stock looks poised to break out nicely to the upside.  I can trade both short term and longer timed options on this stock and that is what I intend to do.

I am looking for a 20% move higher.  I think that move could come over the next few months.  After that 20% move I think the stock ends the year 30% or better from today's trading range.  Below is the chart for the stock.

I am looking at December $45 calls at $1.10 and AUG $45 calls at $.37

ntap

5-22-2013 Watch List

 

Another all-time high and closing high hit on SPY yesterday. Futures are higher this morning as folks await Big Ben’s testimony at 10am this morning. With so little market moving catalysts, this testimony is the most hyped I have seen in sometime. Folks are finally coming to the conclusion that good news is good news, and bad news is good news. When that paradox changes, I dont know, but would figure under 10 on the VIX would be a good start.

BIDU opens above 100, then faded after the open. It struggled to get back above 100 and settled at 99.02. I still like the chart for a breakout into the low 100s in the next day or so, and then a possible test of the 107.20 gap from february. I bought some June ZSL $120 calls and June DUST $180 calls for the next leg down in Silver and Gold that I think is coming. I could be 100% wrong, and the big move down monday could be the capitulation of a bottom for commods. I dont think thats the case, but time will tell. I will re-evaluate my short idea on silver and gold if Gold breaches $1450.

 

OPEN finally broke out in a major way. It did break above 65 Monday, but didn’t find support, and fell back under. Yesterday OPEN found strength in the morning, and seemed the longer is stayed above, the more folks believed in a move to $70. And boy did they ever believe as the stock rallied from $68 to $72.18 in the late afternoon on no news. I did buy some 75 Open calls @ .40/.50 yesterday. The calls for June only go to $75 and the later months are very expensive, so may be hard to play for further upside unless you go with 85 or 90 July calls.

SHLD reports Thursday after the bell, and may try and get my position today along with the RL position I never bought yesterday.

 

Folks are betting on Big Ben will not give any clues on an exit date for QE, while also expecting the FOMC meeting notes to show some wanting to curtail the program before the years out. Could be some bumps up and down today, so make sure you are buckled up.

 

Here are some of the analyst changes today:

 

 

SODA SodaStream downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded SodaStream due to valuation

 

MNST Monster Beverage initiated with an Outperform at BMO Capital
Target $65

Cree upgraded to Buy from Neutral at Sterne Agee

 

DKS Dick's Sporting downgraded at BMO Capital
As previously reported, BMO Capital downgraded Dick's Sporting Goods to Market Perform from Outperform. The firm downgraded shares due to valuation. Price target is $57

 

DKS Dick's Sporting price target raised to $61 from $57 at Susquehanna
Susquehanna raised its price target on Dick's Sporting following in-line Q1 results. The firm believes the company's September analyst day and Q2 results could be catalysts to move the shares higher. Shares are Positive rated

 

CRM Salesforce.com cash flow trends concerning, says Bernstein
Bernstein said Salesforce.com's free cash flow trends are concerning as cash expense indicates a significant decline in free cash flow per share. The firm expects Salesforce.com will have to pay a higher percentage of compensation in cash as free cash flow falls and reiterates its Underperform rating and $29 price target

 

 

P Pandora price target raised to $20 from $16 at Needham
Needham raised its estimates and price target for Pandora citing profits from listening caps on mobile devices. The firm keeps a Buy rating on the stoc

 

GME GameStop shares may rebound in the near-term, says Needham
Needham believes shares of GameStop may rebound in the near-term after selling off yesterday on Microsoft's unveiling of XBox One. The firm attributes the pullback to concerns that playing used games may be harder on the XBox One compared to previous models. Needham has a Hold rating on shares of GameStop

 

 

 

Here are some of the strikes I am looking at for the open, will be keeping it small today:

 

 

Stock Ticker Call/Put Strike Expiration Closing Price Entry Price
RL CALL $210.00 June 0.75 0.50
SHLD CALL $75.42 June 0.53 0.44

 

 

As always, pay attention to twitter and the chatroom for any updates.

 

Lets have a great day!

 

- JB

5-21-2013 Watch List

 

The Market hit another high yesterday, as the SPY touched $167.58, before paring gains into the close. Folks will be watching today to see if we can continue the streak of green Tuesdays, which now stands at 18. Silver and Gold bounced back from big losses overnight to finish green. All the Silver and Gold bulls were out cheering victory, yet they barely recouped losses from Friday. I am still a staunch bear in both and will look to enter the positions i posted yesterday sometime today or maybe tomorrow.

Seems the big event this week is Bernanke’s testimony in front of the Joint Economic Committee Wednesday. I’m not holding my breath for any market moving news from there, but again, folks are scraping for newsworthy items in this growingly complacent market.

Some earnings out from DKS, HD, BBY, and AZO this morning, HD continues to be a benefactor of the housing recovery and had a great quarter and raised guidance. BBY missed on revenues and is down slightly pre-market.

Solar stocks look to continue an incredible move with any stock with Solar in their name up pre-market(or so it seems).

Said it on chat yesterday and last week that I think we will continue to see some crazy moves on some stocks as folks pile into equities.

 

My trade from yesterday I sent via text were the May 31 BIDU 110 calls that were .14 x .16 at the time. Just so you know, the instant the text is submitted, a copy is placed in the text archive forum: https://www.optionmillionaires.com/forum/showthread.php/423-BIDU-110-MAY-31-c

You can make sure you subscribe to that thread and you will have the text emailed to you as well. A good work around for those that may be having issues receiving them.

 

Will keep it small today as I am holding BIDU and PCLN calls.

 

Here are some of the analyst changes for today:

 

 

PCLN priceline.com price target raised to $900 from $800 at Cantor
Cantor increased its price target on priceline.com to reflect the company's acquisition of Kayak which become effective today. The firm remains upbeat on priceline.com and reiterates a Buy rating on the shares

 

TSO Tesoro price target raised to $75 from $65 at Oppenheimer
Oppenheimer increased its target on Tesoro to reflect the company's acquisition of a Carson City, CA, refinery and related assets, after regulators approved the deal last Friday. The firm believes that the deal will create significant value for Tesoro shareholders, and it keeps an Outperform rating on the stock

 

YHOO Yahoo price target raised to $30 from $27 at Oppenheimer
Oppenheimer increased its price target on Yahoo based on a higher valuation for Alibaba, and Yahoo's acquisition of Tumblr. The firm believes that the Tumblr deal is an attempt by Yahoo to strengthen its mobile and social capabilities, while adding more younger users to its platform. Oppenheimer keeps an Outperform rating on Yahoo

 

FL UBS expects another Q1 top line beat for Foot Locker
UBS said Foot Locker's strong Q1 rends in the core basketball category support upside to its +4% Q1 same-store-sales estimate. The firm is forecasting Q1 EPS of 88c vs. consensus of 87c and reiterates its Buy rating and $39 price target

 

MSFT Microsoft price target raised to $40 from $33 at UBS
UBS believes Microsoft's shares can continue to move higher driven by improved earnings visibility, cloud momentum, a bottom in PC weakness, enterprise strength, and expectations for a seasonally strong 2H 2013. As a result, the firm reiterates its Buy rating and raised its price target to $40 from $33

 

JASO JA Solar price target raised to $8 from $1 at RBC Capital
RBC Capital increased its price target on JA Solar after the company reported stronger than expected Q1 results and shipments that exceeded guidance. The firm keeps a Sector Perform rating on the shares

 

Life Technologies downgraded to Underperform from Outperform at CLSA
CLSA downgraded Life Technologies citing the takeout bid by Thermo Fisher. Price target is $76

 

SNE Sony initiated with a Buy at Jefferies
Jefferies is positive on Sony's positions in insurance and content and believes the company needs to exit most electronic markets. The firm started shares with a Buy rating

 

 

 

Not too many analyst changes today, or at least ones I liked from what I saw. Still holding PCLN and BIDU calls and will look to get possibly get into my ZSL position as well as some RL calls for Thursdays earnings.

It looks like some higher strikes were created for ZSL, so may try the $120 calls. DUST also had some higher strikes as well, and will post in chat and private twitter if I get into those.

Here are the strikes I am watching:

 

 

Stock Ticker Call/Put Strike Expiration Closing Price Entry Price
RL CALL $210.00 June 0.75 0.50
ZSL CALL $120.00 June NA 0.50

 

 

Lets see if the market can continue to defy gravity and the increasing number of skeptics.

 

Lets have a great day!

 

- JB